What Asbury Automotive Group is and how it handles vehicle financing
Asbury Automotive Group is one of the largest automotive retailers in the United States, operating hundreds of dealerships across multiple brands including Honda, Toyota, Ford, Chevrolet, BMW, and others. When you buy or lease a vehicle from an Asbury dealership, you are working with a retailer that handles both the sale and often the financing arrangement — though the actual loan or lease may be serviced by a separate financial institution.
Asbury does not originate loans itself. Instead, dealerships in the group work with third-party lenders — banks, credit unions, and captive finance companies (like Toyota Financial Services or Honda Financial Services) — to arrange your financing. This means your monthly payment, interest rate, and loan terms depend on the lender you are matched with, not directly on Asbury's policies. However, Asbury's finance department negotiates the deal structure and handles the paperwork that connects you to that lender.
Understanding this separation matters because it affects where you send payments, who handles disputes, and what options you have if something goes wrong with your loan or lease.
Key Takeaways
- Asbury Automotive Group operates dealerships but does not lend money directly; your loan or lease is serviced by a separate financial institution chosen during the sales process.
- Your interest rate and loan terms are set by the lender, not by Asbury, and depend on your credit history, the vehicle, and the lender's underwriting.
- Payment arrangements, down payment requirements, and loan length vary by lender and by the specific deal negotiated at the dealership.
- If you have questions about your loan terms or payment schedule, contact the lender listed on your loan documents, not the dealership, because the dealership no longer services the account after the sale closes.
How financing is arranged at an Asbury dealership
When you purchase a vehicle at an Asbury dealership, the finance manager presents you with loan options from multiple lenders. The dealership has relationships with banks, credit unions, and manufacturer-backed finance companies. Your credit score, income, down payment, and the vehicle's price all factor into which lenders will offer you a rate and which terms they will accept.
The dealership's finance department earns money by marking up the interest rate slightly above what the lender approves — this is called the dealer reserve or finance charge. This is a standard industry practice and is disclosed in your paperwork. The dealership also may offer add-ons like extended warranties, gap insurance, or service plans, which are optional and add to your total financed amount.
Once you sign the loan documents at the dealership, the deal is sold to the lender. From that point forward, you owe money to the lender, not to Asbury. The dealership's role in your loan ends.
Finding out who services your loan and where to send payments
Your loan documents will clearly state the name of the lender and the address or online portal where you should send payments. This is not Asbury; it is the financial institution that bought your loan from the dealership. Common servicers include Toyota Financial Services, Honda Financial Services, Ford Credit, General Motors Financial Company, and various banks and credit unions.
If you are unsure who your lender is, check your loan agreement, your first payment notice, or the coupon book that came with your paperwork. You can also call the dealership's finance department and ask them to confirm the lender's name and contact information. Do not assume payments go to Asbury under any circumstances.
Most lenders now offer online payment portals and automatic payment setup. Setting up autopay can help you avoid late payments and the fees that come with them.
Interest rates, loan terms, and what affects your monthly payment
Your interest rate is determined by the lender based on your credit score, the loan amount, the vehicle's age and value, and the loan term you choose. Asbury dealerships typically offer loan terms ranging from 36 to 84 months, though this varies by lender and by your creditworthiness. A longer loan term lowers your monthly payment but increases the total interest you pay over the life of the loan.
Your down payment also affects your rate and approval odds. A larger down payment reduces the lender's risk and often qualifies you for a better rate. Some lenders offer special rates for buyers with excellent credit or for specific vehicle models or model years.
The finance manager at the dealership should show you the full loan estimate before you sign, including the interest rate, the number of payments, the monthly payment amount, and the total amount you will pay over the life of the loan. This is called a Loan Estimate and is required by federal law. Review it carefully and ask questions about anything you do not understand.
What happens if you want to pay off your loan early or refinance
Most auto loans have no prepayment penalty, meaning you can pay off the loan early without extra fees. However, you will still owe any interest that has accrued up to the payoff date. Contact your lender directly to request a payoff quote — this is the exact amount needed to close the loan on a specific date.
Refinancing is another option if your credit has improved since you bought the vehicle or if interest rates have dropped. You would refinance through a different lender, not through Asbury. The new lender pays off your existing loan and creates a new one, ideally at a lower rate. This can lower your monthly payment or shorten your loan term, though it also resets the clock on how long you owe money.
Asbury has no role in refinancing decisions. The dealership cannot refinance your loan for you, and refinancing does not affect any warranty or service plan you purchased at the time of sale.
Lease options through Asbury dealerships
Asbury dealerships also offer vehicle leases, typically for new cars from manufacturers like Toyota, Honda, BMW, and others. A lease is a rental agreement where you pay a monthly fee to use the vehicle for a set period, usually two to four years, and then return it. The lease is structured and serviced by the manufacturer's finance company — Toyota Financial Services handles Toyota leases, Honda Financial Services handles Honda leases, and so on.
Lease payments are based on the vehicle's depreciation, the money factor (similar to interest), and any down payment or fees you negotiate. Leases typically include maintenance and roadside information but have mileage limits and wear-and-tear charges. The dealership's finance manager explains the lease terms and handles the paperwork, but the lease itself is between you and the manufacturer's finance company.
If you have questions about your lease payment, mileage allowance, or end-of-lease options, contact the leasing company listed on your lease agreement, not Asbury.
Common issues and how to resolve them
If you believe there is an error in your loan documents — such as an incorrect interest rate, payment amount, or term — contact your lender when ready. Provide them with a copy of your signed loan agreement and explain the discrepancy. Lenders are required to correct errors, and federal law gives you the right to dispute inaccurate information.
If you have a complaint about how the dealership handled the financing process — for example, if you believe you were misled about the interest rate or add-ons — you can file a complaint with your state's Attorney General or with the Consumer Financial Protection Bureau (CFPB). The CFPB maintains a public database of complaints and investigates patterns of misconduct.
If you are having trouble making payments, contact your lender as soon as possible. Many lenders offer forbearance, loan modification, or deferment options for borrowers facing temporary hardship. The dealership cannot help with this; only the lender can.
Frequently Asked Questions
Can I return a vehicle to Asbury if I change my mind after buying it?
Most vehicle sales are final once you leave the lot. Some dealerships offer a brief "cooling-off" period — typically 24 to 72 hours — but this is not required by law and varies by state and dealership policy. Check your sales agreement or contact the dealership's sales manager when ready if you want to discuss a return. Once you have financed the vehicle, the lender owns it until the loan is paid off, which complicates any return.
What if I want to trade in my current vehicle toward a new one at an Asbury dealership?
The dealership will appraise your current vehicle and explore its value as a credit toward the purchase price of the new one. If you still owe money on your trade-in, the dealership will pay off that loan using the sale proceeds. The new vehicle's financing is handled the same way as any other purchase — through a third-party lender, not by Asbury.
Does Asbury offer special financing rates or incentives?
Asbury dealerships often advertise promotional financing rates, cash rebates, or lease specials, especially on specific vehicle models or during sales events. These offers vary by location, by vehicle, and by current market conditions. Visit your local Asbury dealership's website or call their sales department to learn about current offers. Rates and incentives are subject to credit approval and may not be available to all buyers.
Who do I contact if my monthly payment is incorrect or my payment was applied to the wrong account?
Contact your lender directly using the phone number or online portal listed on your loan documents or payment coupon. Provide your loan number and explain the issue. The lender's customer service team can research the payment and correct any errors. Do not contact the dealership; they cannot access or modify your loan account once the sale is complete.
Can I get a copy of my loan documents if I lost them?
Yes. Contact your lender and request a copy of your original loan agreement and all signed documents. You can also request this information in writing and the lender is required to provide it within a reasonable timeframe. Keep copies of all loan documents in a safe place for your records.